In light of the ongoing publicity regarding the Golden Visa case, Jumbo AEE management, points out the following:

• Minor shareholder, Former Deputy Vice--President and Member of the Board of Directors of the company, Mr. Evangelos Papaevangelou, was merely the as the person responsible upon market inspection and responsible for its day-to-day operations related to public services, authorities, local authorities, energy companies, telecommunications, water, etc. He did not have any right to mandate or sign any commercial or financial documents on behalf of the company and has not used any of the company's payment instruments in favor of his personal business operations.
• In the few cases he has represented the company, he had firstly received a special authorization from the Board of Directors with a specific behest.
• It was because of his very position in the company as the person responsible upon market inspection, that he had not been travelling to China, during the past few years.
• The company was not aware of Mr. Papaevaggellou and his family companies' business activities in the field of real estate . Publicity that has recently come to light, refers to his personal real estate purchases, not in any kind of business activity or companies affiliated to him. More specifically, there was no form or suspicion of irregularity, let alone suspicions of any illegal activity.
• On 29/10/2018 when we were informed about the publication that was released, suspecting his involvement in an illegal business activity, his resignation was directly requested for moral reasons and was submitted on the same day. Furthermore, the resignation was approved by the Board of Directors on 31/10/2018, as soon as the President returned from abroad.
• Jumbo AEE has neither cooperated with B.W. Binswager Evaluation Services Ltd., nor with any of the companies referred in today's publications, as the companies of his and members of his family interest.
• We are further declaring that the company, on the basis of international accounting standards, estimates the value of its assets according to their acquisition value and has not asked for any estimates on its real estate.
• All of Jumbo AEE's activities are controlled by auditors of the prestigious and certified Grant Thornton Company, excluding any possibility of illegal transactions.